Not knowing about liability insurance can cost you even all the way to a bankruptcy. If someone is injured on your property, they will seek ecovery of their medical expenses and any legal expenses they incur due to that injury. Without general liability insurance, you will be footing all those bills. If you are a contractor and your workers do a poor job for a client, you may be sued for poor workmanship. If you do not have professional liability insurance, you pay for repairs and other claims.
Not knowing about liability insurance is no excuse. There is plenty of information available about types of liability insurance and who should have each type. Your insurance agent should be advising you about which types of liability you should carry. Then it is up to you to acquire the recommended coverage for your home or business. Even independent contractors should carry professional liability insurance; it is often required to obtain some job contracts.
Personal liability insurance protects you and your assets in case of a claim due to negligence, injury or property damage. It is reasonably priced and affordable; what you cannot afford is to go without it. Contact your insurance agent today to be sure that your assets are protected along with your home, vehicle or business. Otherwise, you are all alone when an accident or injury for which you are responsible for happens.
If you are uninsured for liability, all you own is fair game for legal action to provide fair compensation to an injured party. You could lose your property, your business and your livelihood. The prospects of this happening are real; it is a road you do not want to take. Contact your insurance agent today and get the proper liability insurance that you should have for protection.